What is the average personal loan rate in the US vs UK?

US average personal loan APR (2026): ~11.5% for good credit (720+ FICO), rising to 25%+ for poor credit. UK average (2026): ~8.9% APR for good credit under the Consumer Credit Act. Germany averages ~6.5% effective annual rate. US personal loan rates are consistently higher than UK/European rates for equivalent credit profiles.

What is Canada's criminal interest rate?

Since 1 January 2025, Canada's Criminal Code (section 347) makes it an offence to charge, receive, offer or advertise credit above 35% APR; the previous cap was a 60% effective annual rate. The APR counts most fees and charges as interest, so a modest nominal rate plus fees can still breach the cap. Exceptions include provincially regulated payday loans (capped instead at $14 per $100 borrowed), pawn loans under $1,000 (up to 48% APR) and some business loans (over $10,000 up to 48% APR; no cap above $500,000).

Can I pay off a personal loan early in the UK?

Yes. Under the UK Consumer Credit Act, you can settle a personal loan early at any time. Lenders can charge an Early Settlement Fee (ESF) of up to 1 month's interest if there are more than 12 months remaining, or 0.5 months if 12 months or fewer remain. This is capped and significantly lower than similar penalties in some other countries.

🇺🇸 US ~11.5% avg🇬🇧 UK ~8.9% avg🇨🇦 Canada ~9.5%🇩🇪 Germany ~6.5%

Personal Loan Calculator

Calculate monthly payments and total interest for any unsecured personal loan. US personal loan rates are 2–5% higher than UK/European rates for equivalent borrowers — understand why before you borrow.

💡 US avg personal loan APR (2026): ~11.5%. Range: 6–36% depending on credit.

Loan Amount ($)

APR (%)

Loan Term (Years)

Quick Answer

A $15,000 loan at 11.5% APR over 5 years: monthly payment = $329.89, total interest = $4,793. At the UK average (8.9%): monthly = $310.65, interest = $3,639. The same loan costs about $1,154 more in interest at the US rate than at the UK rate.

Personal Loan Rate Comparison (2026)

Country	Good Credit APR	Fair Credit APR	Max Term	Regulation
🇺🇸 United States	7–13%	14–25%	7 years	State regulated; TILA disclosure
🇬🇧 United Kingdom	5–10%	11–20%	7 years	Consumer Credit Act / FCA
🇨🇦 Canada	7–12%	13–22%	5 years	Criminal rate cap 35% APR (since 2025)
🇦🇺 Australia	6–11%	12–20%	7 years	NCCP Act; responsible lending
🇩🇪 Germany	4–8%	9–15%	7 years	EU Consumer Credit Directive

Sources & Methodology

Monthly payments use the standard amortization formula. Typical APR ranges, maximum terms and consumer protections (e.g. the UK Consumer Credit Act or Canada's criminal interest rate) differ by country.

Standards and figures reviewed 2026.

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Cite this page APA · MLA · BibTeX

APA

WorldCalculators.org. (2026, September 25). Personal Loan Calculator: Monthly Payment & Total Interest. https://worldcalculators.org/calculators/personal-loan/

MLA

“Personal Loan Calculator: Monthly Payment & Total Interest.” WorldCalculators.org, 25 Sept. 2026, worldcalculators.org/calculators/personal-loan/.

BibTeX

@misc{worldcalculators2026calculatorspersonalloan,
  title        = {Personal Loan Calculator: Monthly Payment & Total Interest},
  author       = {{WorldCalculators.org}},
  year         = {2026},
  howpublished = {\url{https://worldcalculators.org/calculators/personal-loan/}}
}

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